The automaker blames improper wiring that could prevent the roof-mounted driver’s side air bag from deploying after a crash.
At least 124 people were killed in crashes and 274 injured involving faulty ignition switches in Cobalts, according to a fund send up by GM to offer compensation.Victims’ families are being offered at least $1 million each.
The car maker recalled 2.6 million of the cars last year, but acknowledged it knew about problems with the switches for more than a decade.
Find out more at CBS Money Watch.
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